QUESTION Peter is standing on a busy street corner in a major city. He is stopping female pedestrians to ask whether they would be interested in a cell phone that had a cut-out space for earrings, so they didn’t have to press the phone against the earrings when listening, thus making the ear feel uncomfortable. […]
Date: September 3rd, 2020
QUESTION What is a new product? What will be an ideal response? ANSWER Answer: A new product is defined as a product that either (1) is a significant improvement over existing products or (2) performs a new function for the consumer. New products may be new to a company but not necessarily to the […]
Date: September 3rd, 2020
QUESTION Primary data that companies collect from databases for the purpose of getting accurate customer information to use when making marketing decisions can also be used how? What will be an ideal response? ANSWER Answer: Primary data collected from databases can be used for one-to-one marketing (reducing marketing segmentation to individual customers). Explanation: One-to-one […]
Date: September 3rd, 2020
QUESTION What are the advantages and disadvantages of using primary data sources and secondary data sources when conducting market research? What will be an ideal response? ANSWER Answer: Secondary data is cheaper and easier to obtain, but it is open to competitors, may not fit a company’s needs, and may be out of date. […]
Date: September 3rd, 2020
QUESTION Which of the following, if true, strengthens the argument for keeping the traditional product line? A) The aging product line is disproportionately taking up management’s time. B) Other companies are keeping their competing product lines intact using promotion tactics and aggressive price cutting. C) A miniscule band of loyal customers still prefers the company’s […]
Date: September 3rd, 2020
QUESTION Which factors influencing buying behavior are closely related to the sociocultural forces in the external marketing environment? What will be an ideal response? ANSWER Answer: culture and subculture, and social class Explanation: Sociocultural forces include cultural changes reflecting customs, beliefs, and lifestyles of groups that differ in social class, ethnicity, age, and so […]
Date: September 3rd, 2020
QUESTION Which of the following steps in marketing research is correctly paired with its description? A) Define the problem: Use published data or interviews, observation, experimentation, and focus groups to get information. B) Analyze the data: Implement the best solution. C) Collect facts: Use statistical tools to determine the facts. D) Take action: Clarify the […]
Date: September 3rd, 2020
QUESTION What happened during the selling era? What will be an ideal response? ANSWER Answer: Mass-production techniques led to the production of more and more goods. Suddenly it was a buyer’s market, in which there were more products available than there were buyers. This, in turn, led to the selling concept, which emphasized high-powered […]
Date: September 3rd, 2020
QUESTION Advertising, public relations, publicity, personal selling, and other kinds of sales come into play at which stage in the marketing process? A) conducting research and determining the target market B) product strategy C) pricing strategy D) place strategy E) promotion strategy ANSWER Answer: E Explanation: E) The promotion strategy: How do we communicate […]
Date: September 3rd, 2020
QUESTION Which of the following is NOT one of the ways to collect facts when conducting market research? A) use competitors’ advertising B) use published data or interviews C) use observation D) use experimentation E) use focus groups ANSWER Answer: A Explanation: A) Competitors’ advertising may report facts in a misleading way.
Date: September 3rd, 2020
